Zulily’s stock recovers as insiders are allowed to unload shares for first time

Wall Street punished Zulily last week after the daily deals site said it was prioritizing growth over profits.

But today the company’s stock recovered a bit after its lock-up period expired. Shares were up nearly $3 to $35 a share, or 9.3 percent during regular trading hours today, and in after hours, shares remained stable.

Typically, stock prices fall when insiders are allowed to unload shares for the first time, but in this case, it had the opposite effect with the extra volume driving prices higher.

Presumably some shareholders took advantage of the expiration since nearly 10 million shares traded hands today, up from 1.5 million shares on an average day.

Tricia Duryee is a GeekWire staff reporter, a longtime technology journalist who covers beats including mobile devices, e-commerce, online payments, and video games. Follow her on Twitter @triciad and email her at tricia@geekwire.com.